SANTA CLARA, Calif.,
Aug. 9, 2019 /PRNewswire/ -- CooTek
(NYSE: CTK) ("CooTek" or the "Company"), a fast-growing global
mobile internet company, today announced revised total revenue
guidance for the second quarter of 2019.
CooTek currently expects second quarter total revenue to be
between US$34 million and
US$36 million, compared to the
previously announced range of US$45
million and US$50 million.
The guidance revision is mainly due to the difficulties that the
Company is experiencing in collecting its consideration from Google
and therefore inability to recognize the corresponding advertising
revenues for the last 2 months of the quarter as a result of
Google's decision in mid-July to temporarily disable the Company's
global portfolio apps. CooTek is in continuous communication with
Google to clarify any potential misunderstandings and restore
access to its global portfolio of apps though no specific timetable
has been confirmed. However, the processes for appealing such
suspensions and removals could be time-consuming, and the Company
cannot guarantee that its appeals will prevail or that any such
suspended or removed applications will be made available again. The
current suspensions and removals of the Company's global portfolio
apps could lead to the difficulty in growing or sustaining its user
base even though the Company acquired an increasing significant
portion of its new users through other channels starting in 2019,
and could significantly adversely affect the Company reputation,
business operation and financial performance.
About CooTek (Cayman) Inc.
CooTek is a fast-growing global mobile internet company. The
mission of CooTek is to empower everyone to express themselves and
enjoy relevant content seamlessly. The Company's user-centric and
data-driven approach has enabled it to release appealing products
to capture mobile internet users' ever-evolving content needs and
helps it rapidly attract targeted users. Focusing on 5 verticals of
fitness, news and short videos, healthcare, lifestyle and
entertainment, CooTek has developed multiple rapidly growing
content-rich portfolio apps with news feed to deliver relevant
content.
Safe Harbor Statement
This press release contains forward-looking statements made
under the "safe harbor" provisions of Section 21E of the Securities
Exchange Act of 1934, as amended, and the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can
be identified by terminology such as "will," "expects,"
"anticipates," "future," "intends," "plans," "believes,"
"estimates," "confident" and similar statements. CooTek may also
make written or oral forward-looking statements in its reports
filed with or furnished to the U.S. Securities and Exchange
Commission, in its annual report to shareholders, in press releases
and other written materials and in oral statements made by its
officers, directors or employees to third parties. Any statements
that are not historical facts, including statements about CooTek's
beliefs and expectations, are forward-looking statements that
involve factors, risks and uncertainties that could cause actual
results to differ materially from those in the forward-looking
statements. Such factors and risks include, but not limited to the
following: CooTek's mission and strategies; future business
development, financial conditions and results of operations; the
expected growth of the mobile internet industry and mobile
advertising industry; the expected growth of mobile advertising;
expectations regarding demand for and market acceptance of our
products and services; competition in mobile application and
advertising industry; and relevant government policies and
regulations relating to the industry. Further information regarding
these and other risks, uncertainties or factors is included in the
Company's filings with the U.S. Securities and Exchange Commission.
All information provided in this press release is current as of the
date of the press release, and CooTek does not undertake any
obligation to update such information, except as required under
applicable law.
For investor enquiries, please contact:
CooTek (Cayman) Inc.
Jean Zhang
Email: IR@cootek.com
Christensen
In China
Mr. Christian Arnell
+86-10-5900-1548
carnell@christensenir.com
In US
Ms. Linda Bergkamp
+1-480-614-3004
lbergkamp@christensenir.com
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SOURCE CooTek